TIRANA (Albania), May 16 (SeeNews) – Albania’s government has decided to establish a national power exchange in accordance with European directives as a step forward in advancing the reform of the energy sector, energy minister Belinda Balluku said on Thursday.
The Albanian power exchange will operate a day-ahead and intraday trading platforms, Balluku said in a press release.
The decision was made possible thanks to the help of the International Finance Cooperation (IFC) and the European Energy Community Secretariat, Balluku noted, adding that the establishment of the power exchange will be an incentive for the liberalisation and deregulation of the electricity market.
Balluku also said that the power exchange aims at trading electricity in the regional market and welcomes the participation as shareholders of transmission system operators of countries with which Albania has a memorandum of understanding and sustainable trade activity in this sector.
“This approach is reflected in the criteria set for the selection of potential shareholders,” Balluku said, adding that the operator of the energy exchange will be established by Albania's state-owned power transmission system operator OST and will function as a joint stock company.
The opening of the power exchange to all market operators will guarantee fast and flexible market operation in order to increase the security of Albanian electricity supply and financial transparency as well as deliver on commitments towards the Energy Community.
Albania produces over 90% of its electricity at hydro power plants, most of it at three plants along the Drin River, in the northern part of the country.